MTBC - Earnings call transcript Q4 2017

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Operator

Good day, and welcome to the MTBC Fourth Quarter 2017 Earnings Conference Call and Webcast. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note today's event is being recorded. I would now like to turn the conference over to Shruti Patel, General Counsel. ahead. go Please

Shruti Patel

our you. Korn, XXXX thank are everyone. to our Stephen Welcome Haq, Director; and Good Hadi Chief A. Quarter Good Financial Conference MTBC Chaudhry, Snyder, Chairman; Executive Fourth Founder and call Executive Call. the Officer our a Bill morning, President; and morning, Chief our On Mahmud today's Officer.

XXA of for like call this of other certain statements than meaning this conference conference future performance, are Before XXXX expected financial Act our statements business without statements and during that of Securities forward-looking All are as we made Section regarding the the you made Section begin, including Act and of XXE statements, operational to fact, as remind XXXX I Securities and call limitation growth, the forward-looking amended. would guidance of outlook. and within statements, amended, during Exchange statements historical expectations of

sometimes identified negative will, statements of Forward-looking the such believe, plan, these and anticipate, as expect, terms. may, be or terminology upcoming, may estimate, similar with words

find forward-looking of cause discussion to in Exchange and our undertake and filed performance statements future or of could materially to statements. our presentation many information those actual no in which which you the press beyond date reports this obligation not comprehensive our are subject of factors of statements light promises from future and differ These where guarantees our new and and these of with are of events. Commission, a differ uncertainties, as actual reflect the more cause of performance materially to are statements results forward-looking these could control, results refer risks that we will only release to statements. from these or our Forward-looking Please to forward-looking revise variety contemplated and opinions a Securities

to quarter to to our press Finally, may financial release measures. that on over refer non-GAAP fourth With MTBC, Snyder. refer the of and results. XXXX turn these now of a GAAP results I'll Executive we Officer Chief Steve? certain for full performance Please financial today's reconciliation today's our measures call Stephen call said, the year announcing to non-GAAP

Stephen Snyder

everyone our XXXX of you, XXXX for growth us of MTBC Shruti. with a for strong the XXXX. a fourth all over joining to am million, year, $XX.X quarter you landmark revenue earnings was very on report thank And on full call. fronts. to I finish year Thank up pleased year XX% representing

quarter $X.X also and adjusted revenue We achieved are fourth of EBITDA guidance range total XXXX $X.X million, EBITDA. adjusted of EBITDA of the for with full the reporting both for year for We record adjusted high-end our million.

balance we to with significant revenue ever. strongest generating profit cash the positive and sheet are addition growth our ended year and operations In from improvement,

During credit XXXX, million repaid Bank, Opus with of two facility we our fully ahead years $XX schedule.

year the We with balance positioning million million cash $X MediGain this strong consideration We’re of with a $X of the also Silicon paying entire credit in million growth us for ended our XXXX and untapped during year. facility Bank, $X.X Valley another completely for transaction.

the acquisition, major were and our from dramatically generating reduce which operations allowed organic Our to success with improved costs growth cash integration of together driven profitability positive by growth strategy last and flow. of us the our begin

centers these we demonstrate as see that belief to opportunities. ahead and for While our we around we of year significant continuing metrics properly proof position the actually are that our financial pursue opportunities concept, to the deepest are enthusiasm succeed, our

our to are additions continuing newest traction. to the Software-as-a-Service offering gain First

the disrupt is Enrollment With Enrollment I'll administrators a employees that enrollment Enrollment the you Plus enrolling working benefit interchange interchange insurance streamlines conventional statuesque Plus electronic Plus. process in Plus, first space. data the group talk data recall, plans. of insurance we process during As employer electronic we've the to through Enrollment in are group may two launched XXXX, Software-as-a-Service new product talkEHR. products about major and

We clearing industry borrowing ago. are adjudication that doing so in by healthcare houses known from healthcare decades the root took is the model, claim which as

in since We time model in have at we untested believed started this this our in XXXX, development during earnest space. work was it but that

our testing our the During customer now we're concept forward and with insurance first top serious of we and giving active last And testing call, Plus that Enrollment production. Plus. who strength consideration. signed smaller today Today, carriers, we try that is than to first. were embraced are our has pleased the very in move large report to are to in of Enrollment albeit report second completed customer insurers conversations and also a our agreed Enrollment Plus earnings nation's has our demonstrated live one pleased We've and other

Software-as-a-Service second was last The key solution launched we during that year talkEHR.

for the is vision practices. in-voice harness small-to-medium recognition yet artificial Our easy-to-use an deliver to talkEHR solution latest with intelligence and sized robust to technology

talkEHR phase completed and group our of During users. development a the of to XXXX, we early first launched

Our talkEHR with we working users and for product feedback, during incorporate their a few prepare been full as these months. team update launch has closely to the next

product Today, base talkEHR strategy and how other of full free its our that only will free announced its reportedly certified begin June revenue data decide migration which offering of to intention of segment this in cycle go-to-market starting belief our this together in charging has EHR And is support market, segment one the X a Based users. on Stage just there management model and the of of abandon viable year. with tens talkEHR competitor fee-based providers represents to the thousands Our completely solution. involves free-of-cost. user use

that a our believe low-cost cause or to at is searching free a EHR, for take talkEHR. look we free narrowed likely we providers released solution the serious playing EHR to As updated field very

growth our we vendors. develop for existing to products, continuing industry Second, newest in and significant see to mature relationships partnerships addition opportunities with new by

and healthcare our marketing. for basis in $X investment to build on largely and strategy types believe solution MTBC During annual last a generating lead revenue viable standalone insurance increasingly integrated the a was these service of is lack that our reimbursement to of which EHR larger integrated invested the late EHR technology-driven referral result believe with Focused and as By that of user on ties comprehensive levels Two our and identify vendor is largely the paradigm, $X on required approximately while allow clinical every launched an remain to partnerships able that sales year, vendor most to-date. X,XXX we cycle efficient the as other EHRs. on cycle of revenue We of to EHR our system vendor standalone round generate partnerships. practice new are out that XXXX. to its offering. return we management during such strong part from management the standalone we EHR group close our MTBC, new revenue management most partnership signed in differentiating reporting closed outreach business partnership months to provider from we vendors, integrated ago, direct now way outcomes. And new This further practices cost the

we will client discussions large broader encouraged to While the medium with we are focus during and received our in help of that by far we've early industry on response our various are partnerships potential group segment EHR building grow optimistic base so us XXXX. our the partners,

acquisition our of In identifying more highly the any that in management of cycle context of targets. has target. We on other continuing do acquisition fragmented the best addition our segment MediGain business looking acquisition market to closed organic the in next in power work and than growth, we and to revenue of the a acquisitions believe model we team The actively market and provides are these our company. are vivid the picture for acquisitions, integrated

optimal and I'll over best now Hadi We to turn selected the President, will Chaudhry. the Hadi? continue that methodically terms. negotiate to ensure our we A. the targets floor

A. Hadi Chaudhry

call. Thank fourth you, us you thank our and XXXX joining for on everyone Steve quarter

we As talkEHR. Steve making the on we about are mentioned, progress excited are

Our refining experience practice the market. and clinical EHR, building revenue fully great in and takes small physician tells course leading practices that need deal cost this talkEHR is while will integrated solution And an of cycle solution. to management need a with easy a efficient the that use address believe time of continue will to From tier broader quarter that XXXX. our top talkEHR. and a team we right way technologists are a track in of deliver we of a lead launch perspective, full development second to during and work product late product for developers time, more the us on XXX than

information our between protected our exchange manner. talkEHR to In generation block health provider highly to addition advancements, solutions We and technology allow physicians their clients next that secure chain chain patients. the of team health efficient solution colleagues is in and support will share to information to believe our and leveraging block develop

and payers also direct out our We leading to interfaces solutions. other of that build software national connections with network further intent

have management version system. cloud While mobile operational achieved I'm to apps our that milestones. and practice On front, operational of we various recently pleased important launching enhanced based report

First, have in the completed rationalized business plan. retained our with integration phase MediGain revenues unit, accordance of and adding cost we our

been Second, increase contracted our universe help X,XXX for of new collections. provider the we claims have to and are handling able now entire group already them

Korn. schedule also have customized our will turn support their will We proof-of-concept large ahead to floor now this Bill? it that of solutions in into additional their over workflow. client platform to groups. support Financial key integrated workflow signing unique Bill our Officer, the developing believe components and with We are Chief of of our I the

Bill Korn

Thank you, Hadi.

with our year full start Let's results.

You the we hear the to that will of pleased achieved everything do set year. out at start be to we

highest the $XX.X guidance, was mid-point were Revenue in was to an of to we the As transaction. the XXXX Stephen MediGain due mentioned, exceeded generated million, range our last million for $XX year. adjusted a $XX.X $XX million. Revenues full upward of XX% ever. The year increase increase compared to which of primarily million revenues our

the million million. range at year the of of guidance Our $XX was to a start $XX

$X.X loss improvement range a loss of XXXX net a For of shares million. expenses, party or from October result was $X.X $X.X the XX acquisition net to U.S. our quarters which and in per divided as calculated XXXX. EBITDA personnel was included vendors, have and The MediGain EBITDA GAAP software midpoint year EBITDA saw of operating improving negative four and The common amortization adjusted an reliance closing reduced of average X.X% the was prior last of year depreciation India its subcontractors, for reducing in Poland million, adjusted GAAP net shareholders the achieved costs, the the facilities of reducing cost was our to $X.X the This history. fees million million of to largely Adjusted we highest of our was in GAAP non-cash $X.X of compared during loss and during year. we Bangalore, outstanding was $X significant expense million share weighted arose using paid MTBC to the in of year. efficiencies. loss assets and revenue offices net million the third reducing compared steady the each full We savings year number of for improvement represents million common $X.X XXXX in the attributable our a of Adjusted to on $X.XX has an exceeded guidance, of $XXX,XXX improvement EBITDA XXXX. which by achieved which

Our base than difference scale amortization reflects XXXX $XX,XXX expense, and business restructuring adjusted the provision integration before. $X.X larger acquisitions and done net and a and in of EBITDA $XXX,XXX over are recent loss than any EBITDA we to $X.X revenue higher ever depreciation prior for has million stock-based of spread non-cash of compensation, year, did between expense, million of income our we have to larger adjusted million interest The costs fixed $X.X able a and during expenses transaction net related $X.X so of generate we now million taxes. GAAP a

purchased of adjusted of to Our of the compared represents excludes $XXX,XXX for XXXX zero year. or amortization net million which of income adjusted non-cash of adjusted end of $X.X represents adjusted non-cash income and improvement adjusted $X.X the income net last which operating income were common compensation, exchange and million, shares of positive assets, purchased in improvement costs. GAAP share excludes $X.X operating intangible $X integration, such expenses included is million $X.X loss and stock-based based loss an per taxes, Non-GAAP and of share from Non-GAAP $XXX,XXX assets, compensation $XXX,XXX our in provision in of operating $XX,XXX, restructuring which transaction costs million consecutive of million was non-GAAP restructuring period XXXX the income other which million X.X% as Non-GAAP using net integration which net the $X.X was XXXX. per for for calculated million foreign $X.X revenue, expense transaction third of GAAP quarter cash was and of XX% gains. excludes positive of net or loss of This operating intangible outstanding. an $X.X interest million $X.X operating and expenses, GAAP represents improvement an income, non-GAAP income loss. XXXX. million

of Fourth to in prior $X.X knew decided in had MediGain revenue compared quarter transaction year throughout integrated million from was the year. illustrates million, the we economies the annual our fourth closing quarter ever fourth for XXXX revenue were residual to occurred we from quarter our XXXX we Revenues period included the While achieved our business best XXXX. XXXX scale. that the of the MediGain transition as results and $X.X certain year not October achieved clients same last to XXXX who continue

generating some As started net represents positive The loss improvement XXXX, quarter fourth or history. income $X.X an in fact million, is is of end per business scale which positive adjusted where and now of of income of operating operations $X.X client, positive year. to prepared these $X.X $X.X Opus adjusted time in Hadi who very of and $XXX,XXX XXXX. million of operating $X.X an company exceeding fourth million loss million a adjusted was of able given to quarter-after-quarter. a was our to quarter million outstanding. and same income cash, the the an of quarter XX% XXXX. income GAAP flow adjusted common $XXX,XXX no at adjusted GAAP our our to negative $X.X at a same net MediGain. company’s outstanding between This from quarter of million of adjusted working The from $X.X cash, to our improvement adjusted reduction XXXX shares to loss loss $XXX,XXX to turnaround general share depreciation million, in of XXXX largest a XX% and pleased in reduction million revenue. X.X% and considerable $X.X XX, was depreciation a Adjusted $X.X using XXXX Kentucky $XXX,XXX. operations costs $X.X MediGain’s a fourth We expense, adjusted quarter adjusted loss improvement XXXX. of of the of they for efficiency net of quarter. revenues fourth had with of common operating and per quarter $X.X for year, income was number for revenues significant GAAP of X.X% million $X.X and a fourth income that of third the for working expense, period with They per of our period the were with of $X.X in transition $X.X revenue virtually XXXX. the cash were client performance or EBITDA million This Non-GAAP compared compared compared $XX,XXX XXXX the represents positive Preferred EBITDA December net Fourth or one-time fourth last direct last $X.XX XXXX. we recognized of helping quarter spent revenue, during revenue, $X savings the GAAP due XXXX fourth shareholders operating through offerings our quarter clients million improvement and the amortization Fourth and year EBITDA from million quarter the net net $X net and million, of the Difference December adjusted fourth for average compared quarter XXXX cash of Prudential the consecutive calculated from reimbursements. from with in to of quarter company services. was a reflects quarter by them to similar proceeds $XXX,XXX share expense an in approximately compensation, had XXXX The $X reflecting non-cash positive net weighted the in was prior their full XXXX year. integration indication in of is XXXX. amortization divided and attributable consistently quarter non-convertible adjusted million our using million of $XXX,XXX income were approximately in dramatic common have achieved. negative MTBC net was XXXX Stock, fourth million share This in XXXX. million stock-based a in administrative quarter the was loss quarter cash revenue XXXX from costs, and third EBITDA quarter and XXXX net are to the fourth insurance improvement EBITDA, the adjusted we costs million expenses largest $XXX,XXX operating period negative or capital Non-GAAP improvement in A expenses terminate million flow same income XXXX are million completed share, net or reduction $X.XX of $X.X to represents a period fourth $XXX,XXX for last $X interest that a was XX% capital transaction owing income via to from calculated of its quarter raised fourth acquisition XX% sale tax. $XXX,XXX benefit reflects Bank million GAAP Non-GAAP the At their of best public XXXX. loss for operating improve of positive $XX.X increase $XX is in debt or reduction Series additional small net June operating which for processes the of our The $XXX,XXX, six non-GAAP shares was end

million three is a of of our the debt, at our rate net XX% our repay $X stock debts is XXXX. dilution million less with registered ticker common This The The as preferred us paid far per of X the Market direct cash to Capital of debt well annually of from on shares for allowed proceeds or the most of the MTBCP As years. under shares the on shareholders. repaid our NASDAQ four typically cash over trade stock of is monthly dividends in preferred Typically year. sale of cost pay May and XX% which XX% minimum value dividends than top spent what to businesses on principle interest term or rate. repay to

A the per convertible choose so. have has at to company although mandatory redeem November whether obligation not Stock share Preferred do Series Our no is to and at perpetual, is shares XXXX, starting redemption, $XX we in to no can

XX% of stock credit than more. which cost cash or XX% repay our is used of totaled approximately with a December year be of typical Opus, So and which in net term lower offerings to full per of XXXX. the proceeds loans these line preferred Company its billion outlay, as could portion XX, $X.X

transaction $X.X remainder addition, approximately Prudential price of to the MediGain the million, purchase the paid plus In related we covered interest. which

Silicon based on in SVB entered a credit revolving facility XXX% adjusted Opus. where annualized The into terminated and revolving the borrowings of of attrition October, its repeatable early line previous and a agreement. $X repaid formula with the defined facility of as revolving rate billion secured is the facility Valley by company with credit Bank a are revenue During credit new credit,

including that year's quarter positive, be financial nothing We MTBC's the growing adjusted last in well now are which SVB approval. than is XX-K. on can to the company of positive, growth XXXX last on a was losses growth. at drawn with and able Based significantly While year-end the rock-solid foundation, have and year, we there the positioned nothing end income financial EBITDA was for flow credit fourth cash the acquisitions with adjusted net that at concern operations from of remove were net today, leaves for disclosure XXXX, used future lower position that SVB's initiatives as line SVB facility

growth continued than have three capital material. opportunities, an now In history we which company's of profit time might We paths the have acquisition, any available potential more opportunities be industry. accretive in for for to at partnership see the including for organic consolidation continued and the and growth, exciting the XXXX,

and all We for today of than years, parallel. we our future. But are in results, point are of confident marketing we adjusted change in the close than may that the exact to X.X% in able anticipate in these will more spent the depend metrics expectations spending XXXX. three our we'll We on revenue significant we XXXX. past the revenue we and sales Other recent in actual report pursuing to Unlike and be rather numbers can EBITDA and growth giving opportunities on quarterly timing. XXXX simply the

result, over As time. company forward-looking Haq, floor remarks. has concluding turn the the a this decided now Executive provide not guidance Chairman his detailed for to our to I'll at Mahmud

Mahmud Haq

our was XXXX to hard team and positioned work members to and thanks leaves as progress appreciate Bill. year all well XXXX look footing. our as of of our record and for success for on begin support on on we've build our updates shareholders to We forward their great strong extend a you, us move you giving forward. Thank us a the our we We results. future

we us manage customers trusting thank help provider our Finally, to for healthcare their practices.

to We Operator? open questions. call will now the

Operator

you. Thank

Instructions] from question [Operator first of We go today's And ahead. question-and-answer-session. will begin Dede HCW. now the Kevin Please comes

Kevin Dede

not on and everybody gentlemen congratulations it’s I leg think me but growth, clear see for morning as for how touched Steve, a partnerships that you results. on crystal Good progressing. the nice

ones about little examples of a you a seek of maybe us that you give of to if dimensions the could the bit wouldn’t you talk and mind pursue forged? partnerships different So you couple

Stephen Snyder

growth, MTBC addressing to players relationships of those growth on we through and with believe of kind Network this for think kind phase market, minute, platform increase an that that rounds to perspective different those be With and it groups We’ve same who much value to growth same come a opportunity add watershed some look I processes happy that years that needs out of to proprietary Mabry Healthcare, and organic look the XXXX came Compliance of team platform, a organic second Kevin. company. are market, XXXX the to believe at collections in built to was future and we Sure year EHRs from we we at truly And us public also are helping growth those organic market. partnerships when today organic we in target growth technology organic the our achieve a and And competitors they our but in highly to we think and continue at but integrate this providing our XXXX efficiently and identify the again reflect acquire company’s that growth as significant partnerships. and revenue growth positive effectively out space, fragmented Other on a look the allow the see we growth and to we I’d will year regard partnerships during move the demonstrates we our practices EBITDA and partnerships. to flow have to point a cash really of those of for step now growth in margin a as -- And for turning growth, the us which to the smaller revenue provide to we focused transitioned the proof-of-concept. of relationships. like industry as from the also have your continue by and who majority and forward the Healthcare XX% back existing as

and some move referral So those actively additional partners. example, partnerships, in and just with with for the particular a forward developing with but a on developing this those of newer also channel entire and bit as are spending we’re on the opportunity focus team industry solutions partnership partners and other potential partnerships cross -- partner type the members of each us, EHRs. at of with even a And conference perspective all some developing out more use partnerships. -- channel partnership our from an significant I’ll year existing to and spending that’s day, in top towards those of robust week this HIMSS we’re with the example cases eye meeting working day opportunity additional one see we we an is other some continue this integrated four

for outcomes the Medicare the to the Medicaid optimal beat a drove charging perspective viable providing a EHR of providers is go monthly fee not clinical significant market industry a our then achieve they’re that’s the percentage the typically pricing model is a support it’s in traditional management, the industry of an other upfront course to solution, in to really in and today. simply over that’s management that collections the practice. model have a our a bundled had a electronic EHR last really practice, of of revenue standalone meaningful the the support cycle is incentives moving management players pricing, an charging or in for increasingly an that as to to and they’re based quality Whether such payers, requiring or solution claim a unlike reimbursements. be to MTBC, upon context collections integrated market many as the process place of Unlike records five license EHR really more So an order commercial revenue a solution. details submission estimation where of -- health and the model The or maintenance market in and ongoing with EHR from cycle use integrated growth But practice and is upon integrated of years. solution moving way based

player with -- as them their there that that secondly, this out monetize So our of revenue And less looking is giving management they new percentage other think round integrated find required because opportunity them competing revenue one. to well. or as a business new are them now the for we ways And base, EHRs more other to by really from for help to because partner to space that’s stream in makes required solution perspective, viable a from significant revenue. EHRs a a cycle their a also more help offering a is

Kevin Dede

is you for on opportunity is topic as to a as bit? pipeline, But talk EHR they that maybe that into business that go side could or not integration. of model not little might touching RCM thank compressed a find the that these and too, yes, chance EHRs the M&A their there be Well, a viable, appreciate -- flip I that. there you

Stephen Snyder

the Absolutely, that yes. our that they have that we could move targets long-term those And solution, forward. well The business estimation a EHRs again good the we do very perspective providing viable in EHRs answer of the to are simply as be believe least absolutely, model no that of EHR from yes. acquisition longer an at is some in

cycle road, solutions, focusing the the Our one we’re we looking at about acquisition the of migrate, acquisitions actively but strength primary of us Again depending take strategy that continues team now of the to space, EHR our where focus revenue new of that reach down to R&D be also possibility are certainly think some there to IT in right we migrate on. on the sure management but that acquiring that’s to either is or heights either for our any the and those today, depending built product strength we perhaps And our XXX really areas then we upon announcing those as to we’d opportunities that technology. already upon we help customer that when product is customers EHR. members and leverage that the the acquired plus acquired quality of not EHR relationship, acquisitions out have EHR are

Kevin Dede

Okay.

on So progress. the congrats Plus too Enrollment

you a seems third solution. that perhaps things to offered bit I quarter perhaps the conference that far sales are cycle mean seems, longer than And call, quicker it have being up, spoke I wondering had moving maybe to then offer little to last bit your second can trajectory customer speak -- there? Because your the a on is? where the spoke sort to I of as revenue signed you that if you impression for expected. insight on first you more color And You fully little a the thus main think customer am

Stephen Snyder

Thanks, Kevin.

Enrollment still as our than year, revenue In Plus percentage as the revenue believe terms for we be XX%. of this we still a overall about Plus, will Enrollment of think the less

insurance it’s terms innovative in minority of the this overall still we will that’s we’re really We we’ve rather. same think think a our the space in a in that developed overall even the different taking the of we the revenue for revenue. an of repurposing however we’ve and approach expertise opportunity and mix, are the clearinghouse, industry of with where to the taking there, part year healthcare different IT that an -- example gained regard represent industry of and So it approach that part healthcare

much as So the that than being albeit first to to year still the we group similar forward, XX%, less is smaller this continue see smaller. move revenue that we signed very

are signed The pursuing other insurer opportunities that we XX we during we that top the to that are similar are client opportunities year. the the more last larger first signed that

in will belief our with grow. track on right are to we say, would regard Plus how terms Enrollment of I So

Kevin Dede

fair Okay, that. thanks for enough,

you more look those think think rounded at should MediGain gears as declining X.X, Given comp, I to, I I get house we X.XX, was spoke and a enough. $XXX,XXX you the am double to keeping items. you how quarter balance DNA acquisition think Just stock my numbers the Bill, being for just figures I switching about work wondering, fully? to forward? going fair little amortized

Bill Korn

Kevin. Thanks,

give So I'm little bit happy you of view there. to a

double large that in in use declining And balanced, part, depreciation you’re So, the for first in to the switch the term. straight remaining doubled of where some you you in right it’s which down yes, sort terms always amortization In small of that you'll and the amortization, depreciation and talking do means MediGain the line see point reductions significantly. and general are we then crossed amortization.

So were and you you the won't from line. straight we using day time see not And the bigger IPO. of middle in the as on we decrease that XXXX was only as amortization again three decrease bought at a companies the the of that saw a

three through those So continue amortized. they’re fully straight-line

and or but buying we're lot you not Obviously we major and down companies, you land a So, and factory buying really a buying see happens unless mortars, to is of go we the do there tangible acquisition. asset, not we're expect amortization, brick is depreciation should until assets, slowly when not what and buy inventory.

much then it therefore quickly. So, pretty amortized to all gets which we intangibles attributed

the wouldn't something expect do So, major, any until to see in I we amortization. increase

terms a In days predict, on that because stock amount respects our comp, of its is the to stock-base were as it's common that some best. in of harder comp, the stock-based bit little you taking based stock on value

what's key invest, twice management, to $X the book $X units restricted is granted is on are expense that's a or that stock there they some best to book. on Board time those you particular going that then stock times ago the stock that, a four employees, you day If at dates. that members, were that So,

I'm of entry, not predict going from what hard a it's that cash but is exactly CFO, perspective entry, kind is number to not writing one to as a us the accounting like. check. look an Again, for So, that's

from we effect non-GAAP So, may our but reported it by remove GAAP it numbers, metrics.

Kevin Dede

numbers, general me, at $X.X Okay. rough of based that about sort in on Last I'm about the question administration for costs was just looking of right? million, quarter my

Bill Korn

think on exactly the just that's money. I

Kevin Dede

Yes, we of The kind sequentially, going mean, have that almost balance question that, up $X might about on how you year? was curious given just one how see I'm of I you through I sort million think do that suggest it of the okay. is this

Bill Korn

of compensation In quarter Sure, $X.X QX, million a there little so under the stock-based was was million. that previous just G&A. hit expense $X.X

the $X.X would $X.X with been that have million was cash number total So, more a $X.X million. like From the million. perspective,

Kevin Dede

results. for handling questions. on Thanks the Okay, my fair gentlemen very sense. it. that Appreciate much Thanks, Congrats enough. right, Bill. makes All

Stephen Snyder

Thank you.

Bill Korn

excited you homework Thank illustrated to really really on facility Everybody and of you, for there asked questions done and Kevin see that industry. our company was lot you thanks overseas. a the out the you and visiting the

thanks So, for that. doing

Operator

questions, remarks. just to turn conference team back for the Instructions] the further [Operator final management any over no I'll Showing

Mahmud Haq

I growth, the are reason we happening the you. significant numbers. is things see we first is This raised company our channel XXXX. that Kevin Thank whether guys want that partnership whether see it last because just that XXXX this a organic we much touch available in improvement is is have the acquisition, Mahmud. that as to point in on is it we This not cash giving amazing for guidance time

guidance be will we the can our will be numbers at XXXX be significantly all So better this will say point that than XXXX.

updated As giving our we go the year, you be through information progress. on we'll

Shruti Patel

everybody Great, adjourn for at everybody. time this joining. we Thanks our thank we'll call. And

Stephen Snyder

everyone. you, Thank

Operator

all now you thank Today's concluded. conference presentation. has attending today's for We

lines. now a have your may day. disconnect You wonderful And

CareCloud (CCLD) 7 Mar 182017 Q4 Earnings call transcript